Category Archives: Business

Himadri Speciality Chemical Ltd PAT Grows by 48% to Rs. 183 Cr in Q1FY26

Quarterly Highlights of Standalone Financials:

Commenting on the results and performance, Mr. Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical Ltd said: “We are pleased to report our highest-ever quarterly EBITDA and PAT, underscoring a strong, resilient and sustainable financial performance. For the quarter, EBITDA stood at Rs. 234 Crores while Profit After Tax (PAT) came in at Rs. 183 Crores. This significant growth in profitability was driven by our continued focus on high-value speciality products, operation efficiencies leading to improvement in yields and strengthening of our waste heat recovery systems. While our topline was marginally impacted by the correction in raw material prices, the quarter was marked by notable progress across strategic and operational fronts.

We commenced operations at Birla Tyres and simultaneously unveiled its new brand identity—including a modernized logo and a redesigned corporate website. This rebranding initiative is part of a broader transformation to reposition Birla Tyres as a high- performance, future-ready brand on the global stage. In the coming months, the brand will roll out an integrated marketing campaign across digital, television, print, and outdoor platforms to enhance brand recall and deepen engagement with both new-age and long- standing customers.

This quarter also marked a significant step forward in our vision to become a global leaders in clean-tech and energy materials. We entered into an exclusive technology licensing agreement with Sicona, an Australian next-generation battery materials company. This partnership allows Himadri to localize and commercialize Sicona’s proprietary SiCx® silicon-carbon anode technology in India. SiCx® has shown the potential to boost battery energy density by up to 20% and improve charging speed by 40%—a breakthrough for lithium-ion battery performance, especially in electric vehicles and energy storage systems.

Further advancing our strategic roadmap, we invested USD 4.43 million to acquire a 16.24% equity stake in International Battery Company (IBC), a U.S. headquartered technology developer and manufacturer of chemistry-agnostic prismatic Lithium-ion cells. This collaboration provides us with access to IBC’s established manufacturing infrastructure in South Korea and its upcoming Gigafactory in Bengaluru, slated to commence operations by Q4 FY26. This is a significant milestone for Himadri, marking the start of the commercial deployment of our LFP Cathode active and anode materials, while enabling access to IBC’s expanding customer base across the U.S., India, and East Asia.

Our performance this quarter reaffirms the strength of Himadri’s foundation and the clarity of our strategic direction. As we scale investments in battery materials, deepen global partnerships, and pursue innovation with sustainability at its core, we remain confident in our ability to generate long-term value for all stakeholders.”

Torrent Pharma Delivers Strong FY25; Global Expansion on Track

Torrent Pharmaceuticals Posts Strong Revenue Growth; Sets the Stage for Accelerated Global Expansion and Margin Upside

July 16, 2025: Torrent Pharmaceuticals Ltd. (TRP) has reported a robust 7.3% year-on-year (YoY) revenue growth, propelled by a 12.5% surge in its branded business, with sustained momentum in the domestic market continuing to serve as the cornerstone of its performance. The company remains confident in delivering a 12% revenue CAGR over FY25–28, supported by ongoing field force expansion, new product launches, and the growing contribution from Curatio.

Domestic Business: Driving Double-Digit Growth Leadership

TRP’s domestic franchise continues to outperform the Indian Pharmaceutical Market (IPM) in both volume and value growth. The company recently expanded its medical representative (MR) strength to 6,400, with plans to scale this further to 6,800–6,900 by FY26-end. Growth remains broad-based across key chronic therapies—Cardiac, Anti-Diabetic, GI, CNS, and Dermatology—complemented by the momentum of Curatio, which delivered 19% YoY growth in FY25.

With an aggressive focus on clinically differentiated launches, increased productivity, and in-licensing deals, Torrent expects to maintain 12% domestic CAGR over FY25–28, reinforcing its leadership in high-value therapy areas and its rising footprint in consumer health.

US Business: Poised for Strategic Inflection

Following a subdued FY25, Torrent’s US operations are set for a meaningful recovery from FY26 onwards. The company now has USFDA-cleared manufacturing facilities at Indrad and Pithampur, enabling 7–8 new launches annually. The dedicated oncology facility and a deepening pipeline in complex generics and high-value, hard-to-make products position the company well for long-term growth. Torrent targets breakeven in the US business by FY26, laying the foundation for top-line acceleration and improved profitability.

Brazil: Growth Recovery on Track

Despite temporary headwinds in FY25 due to BRL depreciation and channel destocking, Torrent remains the No. 1 Indian pharma company in Brazil. With the easing of pricing pressures and stabilization of the BRL, growth is expected to resume from FY26. A robust product portfolio in CNS, Cardio, and Diabetes, investments in local manufacturing, and enhanced digital engagement tools will support the return to double-digit growth in the region.

Margin Outlook: Positioned for Expansion

Torrent sustained EBITDA margins of 33% in FY25, despite currency and regional challenges. Looking ahead, margins are projected to improve by 300 bps to 35–36% over FY26–28E, driven by:

• Improved PCPM (Per Capita Productivity per MR) in India
• Currency normalization and inventory stabilization in Brazil
• Product mix shift towards complex generics and differentiated launches
• Operating leverage from US business breakeven

Torrent continues to invest in technology-led efficiencies, cost optimization, and scalable growth platforms, reinforcing its position as a high-margin, innovation-driven pharmaceutical leader.

LunchBox by Rebel Foods Serves Up Shravan with a Side of Comfort – Launches Special Satvik Menu Across Platforms

Mumbai, 16th July 2025: Who says fasting means giving up on flavour? This Shravan, LunchBox by Rebel Foods is bringing home all the comfort of traditional vrat meals with its newly launched Shravan Specials, a heartfelt menu crafted specially for the season. 100% satvik and made with sendha namak with no onion and garlic, these dishes skip the onion and garlic but not the taste.

At the centre of the celebration is their most-loved combo: Sabudana Khichdi Curd Meal with Vrat Aloo Pattice, priced at just ₹259. It’s the kind of meal that brings instant comfort, light, soulful, and just the right kind of indulgent for fasting days. The rest of the Shravan menu is equally inviting, featuring familiar favourites like Sabudana Vada, Paneer Makhani, Dum Aloo, Kuttu Paneer Pakoda, and Sabudana Paratha. For those with a sweet tooth, there’s the comforting Rajgira Halwa all made fresh, wholesome, and vrat-friendly.

Nishant Kedia, Chief Marketing Officer at Rebel Foods said “Shravan is a deeply personal and spiritual time for many Indians, and food plays a big part in that journey. With the Shravan Specials from LunchBox, we wanted to make fasting simple, convenient, and still rooted in the flavours we all grew up with. Whether you’re observing a fast or just looking for something light and wholesome, this menu delivers both comfort and familiarity in every bite.”

The limited-time menu is available now on EatSure, Zomato and Swiggy and is already winning hearts across cities. It’s available PAN India till 25th August 2025.

Dtale Redefines Indian Interiors with Sustainable Luxury and Timeless Craftsmanship

Bangalore, India – Dtale, India’s premier homegrown interior and furniture brand, is setting a new benchmark in luxury décor by blending sustainable practices with masterful craftsmanship. With a legacy spanning over two decades and more than 20 lakh square feet of bespoke interiors executed, Dtale continues to transform the way India decorates its living and hospitality spaces.

Founded in 2000, Dtale has earned its reputation as the architect’s first choice and the designer’s trusted destination. The brand offers an extensive portfolio of handcrafted furniture, sustainable home accessories, and custom wall art that celebrate India’s rich artisanal heritage while catering to contemporary tastes.

Key Highlights:

• Sustainable Elegance: Every Dtale product is crafted using responsibly sourced wood, recycled metals, and natural fabrics—ensuring each creation is as kind to the planet as it is beautiful.
• Artisan Empowerment: Skilled Indian artisans handcraft each piece, supporting local communities and preserving traditional crafts passed down through generations.
• Personalized Design: Bespoke customization allows clients to co-create pieces that reflect their unique style and values.
• Trusted by Professionals: Dtale’s clientele includes leading hospitality brands such as The Sheraton, Novotel, Dunes, Samroha, Saptha Hospitality, Holiday Group, and Ananta Living, alongside celebrities and discerning homeowners.
• Affordable Luxury: Dtale makes premium, handmade décor accessible without compromising on quality or design.

This Season’s Featured Collections:

• Ebba 2.0 Series: A sophisticated blend of contemporary design and luxurious comfort, featuring plush, generously padded cushions wrapped in rich textured fabrics.
• Jess Series: A design icon from the Netherlands, this collection creates an informal ambience that feels effortlessly inviting.

Kezia Two-Way Rattan Swing: A celebration of timeless craftsmanship with an innovative reversible backrest—perfect for elevating any space with warmth and charm.

PhonePe’s Pincode Empowers Offline Retailers, Digitalises Over 1,000 Offline Stores

Bengaluru 16^th July 2025 : PhonePe’s hyperlocal quick commerce platform, Pincode, has digitally empowered over 1,000 local offline stores across Bengaluru, Pune, Delhi NCR, Hyderabad, Mumbai, and Varanasi. By combining technology, operational expertise, and reliable logistics, Pincode enables offline retailers to compete effectively and accelerate growth in India’s rapidly digitalising retail market, without losing their local identity.

Pincode works closely with offline retailers to tackle critical problems, including limited reach, delivery inefficiencies, and pricing pressures. Through data-backed insights, Pincode helps retailers optimise their product selection based on real customer demand, ensuring higher relevance, faster movement, and better margins. This approach enables local stores to not only build an online presence but also strengthen their core offline operations, driving sustainable growth and empowering them to compete effectively against large online players.

“Pincode isn’t just digitalising stores—we’re building future-ready businesses,” said Vivek Lohcheb, CEO of Pincode. “Our mission is to be a growth partner for every offline seller. We go beyond just listing stores online; we provide a complete ecosystem for success. To deliver on this promise, we developed our Smart Store Program, which equips our offline retail partners with the technology, operational know-how, customer access, and logistics that they need to flourish. We are empowering offline retailers to bring the entire local market to their customers’ doorsteps, matching the speed and selection they expect, while preserving the invaluable trust these stores have built over decades.”

Pincode’s Smart Store Program offers offline retailers:

• Intelligent stock management tools, including ERP and POS integrations.
• Operational support to optimize store layout and efficient order processing.
• Dedicated delivery infrastructure ensuring over 99% order reliability.
• Marketing and demand generation support to grow both online and offline sales.
• AI-powered cataloguing for quick and simplified digitisation of product listings.

 Here’s what some of our merchant partners say on their digitalisation journey with Pincode.

 “After joining Pincode, 75% of my business now comes through online orders. Deliveries are on time, customers are happy, and the next-day settlements make cash flow easier to manage. It’s been a game-changer for my store.”— Sher Khan, Owner, Green Garden Shop, Greater Noida

“Coming from a small village, I had no experience with online platforms, but Pincode made everything simple. Since joining, my weekday sales have gone up by 30–35%, and weekend sales by over 50%. The onboarding was smooth, the support was constant, and the results speak for themselves.”   — Mahi Mehwada, Owner, Balaji Mart, Pune.

“As a business built on customer trust, moving online needed to be seamless—and Pincode made that possible. The platform’s fast delivery system and local order routing have helped us serve more pet parents, faster. Since onboarding, our customer base has grown significantly and online orders now contribute a major share of our monthly sales.” — Manjunath, Manager, Oh My Dawg, Bengaluru

Pincode invites Bengaluru’s offline retailers—across all categories like Grocery, Stationery, Meat & Fish, Pharma, Pet Food & Supplies, and more to join its growing network. By partnering with Pincode, retailers gain access to digital storefronts, smart inventory solutions, and dependable last-mile delivery, helping them expand their customer base and thrive in India’s rapidly evolving digital commerce landscape. Interested store owners can write to  sell@pincode.com to join the Pincode network.

Arisinfra signs MOU with Wadhwa Construction, Adds approximately ₹75 Crore of project pipeline for Panvel’s Wadhwa Wise City

Mumbai,India–July 16, 2025: Arisinfra Solutions Ltd. (NSE: ARISINFRA), India’s most trusted provider of organised construction material supply and value-added services, announced that it has signed MOU with  Wadhwa Construction and Infrastructure Pvt. Ltd. for the next phase of its flagship Wadhwa Wise City project in Panvel.

Building on its strong track record of timely supply and seamless project execution, Arisinfra will now support the material supply for a development of 7 new towers totalling to a 1.2 million sq. ft. of construction area. This extension is expected to contribute an additional ₹75 Crore to Arisinfra’s material supplies over the next 36 to 40 months.

Located in Panvel, Wadhwa Wise City is an ambitious 250+ acre integrated township that is master-planned as the next major growth hub of Mumbai 3.0, adjacent to the upcoming Navi Mumbai International Airport. The township integrates residential towers, villas, plotted layouts, commercial zones, retail areas, educational institutions, and spiritual centers, to deliver a modern and self-sufficient urban community.

With over 3,000 homes already delivered, the upcoming development phase aligns with the region’s rapid infrastructure growth, including the Panvel–Karjat suburban railway line and increasing connectivity to Mumbai and other key regions.

Ronak Morbia, CMD, Arisinfra Solutions Ltd., stated “We are proud to deepen our association with the Wadhwa Group on a landmark development like Wise City. This mandate is proof of our execution capability and the trust we’ve built by solving real supply chain gaps for large project. As India’s urban landscape evolves, our focus remains on being the backbone that lets visionary developers plan boldly, build faster, and deliver with confidence.”

 Navin Makhija, Promoter, The Wadhwa Group., said “After delivering more than 3000 homes in this township, the timing of this phase of development is  keeping in mind the upcoming launch of the new international airport and the new Panvel-Karjat suburban railway line, Having a trusted partner like Arisinfra gives us the confidence to plan ahead — knowing that reliable material supply are taken care of seamlessly, we can focus on delivering a thriving urban community at scale.”

This mandate reinforces Arisinfra’s strategy of collaborating with leading developers to establish long-term material supply pipelines through dependable service, strategic planning, and a robust, organised distribution network. As cities expand and housing demand rises, Arisinfra continues to play a pivotal role in powering India’s next phase of urban development through efficiency, quality, and reliability.

Allcargo Terminals Raises INR 38.28 Cr via Warrants for Expansion and New CFS/ICD

Mumbai, July 16, 2025: Allcargo Terminals Ltd. (ATL) has announced a proposal to raise Rs. 38.28 Cr. through the issuance and allotment of up to 1,32,00,000 Fully Convertible Warrants to the Promoters/Promoter Group. The Board of Directors of ATL has approved the preferential allotment in its meeting held on July 15, 2025. Each warrant has a face value of ₹2 per share, at an issue price of Rs. 29 per warrant at a premium of Rs.27 per warrant, subject to shareholder and regulatory approvals. This issuance accounts for approximately 5% of ATL’s post-conversion equity share capital and is priced at a ~1% premium to the SEBI-defined floor price.

This kickstarts ATL’s three year expansion plans. ATL has a current capacity of 8.3L TEUs annually across its seven facilities in five hubs that handle approximately 80% of India’s EXIM trade. ATL plans to augment its capacity to over 13L in the coming three years – by expanding some of its key facilities and by developing new CFS/ICD facilities. This strategic move is in line with ATL’s long-term growth roadmap and will support the company’s multi-location infrastructure expansion at Mundra and Nhava Sheva, Greenfield ICD at Farukhnagar and infra upgrades at existing facilities.

Currently operating at 80–85% capacity utilisation, the expansion plans will enable the company to cater to future demand and consolidate its leading position in key logistics corridors.

Mr. Shashi Kiran Shetty, Founder & Chairman, Allcargo Group, said, “The preferential allotment by the Promoter Group is a reaffirmation of our long-term commitment to Allcargo Terminals’ vision and growth strategy. As India’s logistics sector undergoes structural transformation, ATL is well positioned to scale up operational capacity while remaining capital-efficient and growth-focussed, creating sustainable value for all stakeholders.”

Mr. Suresh Kumar R, Managing Director, Allcargo Terminals Limited added, “This expansion comes at a time when our core facilities are operating near full capacity. The proposed expansion in Mundra and Nhava Sheva, greenfield ICD at Farukhnagar and infra upgrades at existing facilities are aligned to strengthen our multimodal footprint. Our capacity enhancement will position us to meet rising customer demand across trade hubs and support our growth outlook. Our strong internal accruals will significantly assist our growth plans even as we from time to time assess capital needs and evaluate options”

Ashok Leyland Partners with Tamil Nadu Grama Bank to strengthen Vehicle Financing Solutions

15^th July, 2025: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Tamil Nadu Grama Bank to enter into a strategic vehicle financing partnership to provide customized loan options and enhance accessibility for commercial vehicle customers across Tamil Nadu.

The MoU was signed by Mr. Viplav Shah, Head-LCV Business, Ashok Leyland, and Mr. Kannan Ponnuraman, General Manager, Tamil Nadu Grama Bank, in the presence of Mr. Mani Subramanian, Chairman, Tamil Nadu Grama Bank. Under this partnership, Tamil Nadu Grama Bank will be able to provide end-to-end financial solutions to the customers of Ashok Leyland. The partnership will focus on meeting customer needs by providing vehicle loans with convenient monthly repayment plans tailored to their preferences.

Mr. Viplav Shah, Head-LCV Business, Ashok Leyland, said, “We are delighted to partner with Tamil Nadu Grama Bank to offer our customers convenient and attractive vehicle financing solutions. This strategic collaboration will further strengthen Ashok Leyland’s presence in the market and enhance accessibility to our innovative, cost-efficient products. At Ashok Leyland, we are committed to delivering industry-leading value and exceptional experiences for our customers, empowering them to achieve greater profitability and success.”

Mr. Mani Subramanian, Chairman, Tamil Nadu Grama Bank, said, “Tamil Nadu Grama Bank is pleased to partner with Ashok Leyland to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”

Tamil Nadu Grama Bank has 676 Branches across Tamil Nadu. The Bank offers a wide range of financial products catering the needs of different strata of society. Apart from agriculture and retail loans, the bank has products designed for the specific needs of Micro, Small, and Medium Enterprises in Tamil Nadu. The bank actively promotes various government schemes aimed at financial inclusion, with a mission to serve the last mile of society with affordable banking services.

Ashok Leyland today offers a comprehensive range of trucks and buses to meet the full spectrum of commercial vehicle needs, from intercity light commercial vehicles to long-haul trucks and a wide variety of buses. Ashok Leyland’s vehicles ensure safe transport and driver-friendly options. As a pioneer in technological innovation within the truck and bus segment, Ashok Leyland is fully equipped with a range of buses powered by alternative fuels, dedicated to reducing pollution and promoting an eco-friendly transport system in India.

Sony Research Award Program’ to Start Accepting Submissions Focused on Emerging and Innovative Technological Development

New Delhi, 15^th July 2025: Sony Group Corporation (Sony) announced today that it will begin calling for research proposals for the Sony Research Award Program on July 15, 2025. The Sony Research Award Program is an open innovation program for universities and research institutions such as government research institutes and nonprofit organizations in the U.S., Canada, 17 European countries^*1 and India. This year, we are seeking research proposals that support “Creative Entertainment Vision,” the long-term vision for where Sony wants to be in 10 years.

The Sony Research Award Program is comprised of two awards – the Faculty Innovation Award and the Focused Research Award. It provides sponsored research funding for projects on cutting-edge technologies in collaboration with Sony Group’s own research groups.

The Faculty Innovation Award grants up to $100,000 USD to principal investigators for one year^*2, for diverse research projects including AI, that may fall within three broad subject categories (Information Technology, Device Technology, and Entertainment) relevant to Sony’s general research interests.

The Focused Research Award provides support for up to $150,000 USD for one year^*2, to　conduct research on themes more focused on Sony’s immediate areas of interest. There will be 11 themes this year, focusing primarily on AI technologies that unleash creators’ creativity and lead to the creation of new value.

Sony will continue to advance research and development and promote innovation through partnerships with universities and research institutes around the world.

For more information about the awards, as well as the submission guidelines, please visit https://www.sony.com/en/SonyInfo/research-award-program/ .

European countries included in the program are Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, the United Kingdom.

With the possibility of an extension.

Comment from the award recipient in 2023:

Professor Laurie Heller, Carnegie Mellon University (Pittsburgh, U.S.)

“With support from Sony, my colleagues and I are investigating ways to use machine learning and large language models to generate perceptually better interpolation between environmental sounds. This has relevance for creative arts, sound designers, and the scientific study of sound categories. We have also explored vision-and-language models for sound categorization. Sony has offered their expertise and resources to support our research. With the support of Sony, we hope to advance generative sound technology that can be applied in a multitude of ways.”

Comment from the award recipient in 2022 and 2023:

Professor Alan Marshall, University of Liverpool (Liverpool, U.K.)

“The past two Sony Research Award Program collaborations have proven to be transformative for my group’s research. The opportunity has allowed our group to develop and investigate new approaches to multi-sensory immersion, including the olfactory sensory channel as well as more traditional haptic, aural, and visual channels. More importantly, the close relationships formed with Sony researchers have opened up new thoughts and possibilities. These collaborations have accelerated our research into how to implement and measure levels of immersion and presence in multi-sensory environments, as will be encountered in the next generation metaverse.”

VinFast Opens Pre-Booking for Highly Anticipated Premium Electric SUVs VF 7 and VF 6

Gurugram, July 15, 2025: Following a successful debut at the Bharat Mobility Global Expo earlier this year, VinFast Auto India — the Indian subsidiary of global electric vehicle leader VinFast — has officially opened bookings today for its premium electric SUVs, the VF 7 and VF 6, across the Indian market.

These models will be officially launched for public sale in August, following the inauguration of the company’s plant in Thoothukudi, with deliveries to follow subsequently.

Indian customers can now reserve their preferred VinFast electric SUV either at VinFast showrooms or through the company’s official website, VinFastAuto.in, with a fully refundable booking amount of INR 21 000.

Designed to deliver global-quality electric mobility solutions tailored for Indian roads and consumer needs, the VF 7 and VF 6 offer impressive real-world range on a single charge. Both models are engineered for convenience, whether for daily city commutes, intercity travel, or weekend getaways — addressing range anxiety while delivering comfort, performance, and cutting-edge technology.

The vehicles will be assembled locally at VinFast’s upcoming factory in Thoothukudi, Tamil Nadu, reinforcing the company’s long-term commitment to India as a critical market and future EV production hub.

 Model Highlights

• VF 7: A dynamic electric SUV featuring a spacious premium interior, Level 2 Advanced Driver Assistance Systems (ADAS), large touchscreen, connected car technologies, panoramic glass roof, wireless charging, and signature LED lighting.
• VF 6: Family-oriented and stylish, the VF 6 combines premium comfort with Level 2 ADAS, an intuitive infotainment system, connected features, signature lighting, and a panoramic roof — designed for everyday practicality and smart driving.

Speaking on the Pre-Booking announcement, Mr. Pham Sanh Chau, CEO of VinFast Asia, said: “We are deeply encouraged by the overwhelming support from Indian consumers at the Bharat Mobility Global Expo. It reaffirmed the country’s readiness and enthusiasm for sustainable mobility solutions. The VF 6 and VF 7 represent our vision of bringing world-class EVs tailored to local needs, and we’re confident that Indian customers will find these models not only competitive, but truly inspiring.”

To ensure a seamless ownership experience, VinFast has signed agreements with 13 dealer partners to establish 32 dealerships across 27 cities, forming a robust 3S (Sales, Service, Spares) ecosystem. The initial set of dealerships will be established in key urban and emerging EV markets, including Delhi, Gurugram, Noida, Chennai, Bengaluru, Hyderabad, Pune, Jaipur, Ahmedabad, Kolkata, Cochin, Bhubaneshwar, Trivandrum, Chandigarh, Lucknow, Coimbatore, Surat, Calicut, Visakhapatnam, Vijayawada, Shimla, Agra, Jhansi, Gwalior, Vapi, Baroda and Goa.

The company has also announced partnerships with RoadGrid, myTVS, and Global Assure to create a reliable, nationwide charging and after-sales service network. These strategic collaborations will offer real-time charging access, AI-driven diagnostics, and integrated digital platforms to support VinFast’s fast-growing customer base and EV infrastructure.

In line with its commitment to sustainability, VinFast has also partnered with BatX Energies, a leading Indian clean-tech company specializing in battery recycling, rare metal recovery, and end-of-life battery repurposing. This collaboration marks a significant step toward building an integrated, circular battery value chain in India — reinforcing VinFast’s mission to enable a greener future through responsible innovation.